1. Today corporations are required to send their stockholders an annual report. Assume that you are a prospective investor trying to decide if you should invest in a specific corporation. What type of information is contained in an annual report that would help you decide if this is the right investment for you?
2. Why are current assets listed before fixed assets on the balance sheet?
3. What are the differences between managerial accounting and financial accounting? From a career standpoint, which type do you prefer and why?
4. Write the accounting equation. Then define each term.